This invention relates to a bank system for using credit/charge cards for making purchases and recording and billing, and more particularly to a system enabling credit/charge cardholders to contribute to charities of their choice.
At the present time, several banks offer credit/charge cards where the user benefits in some manner every time a transaction using the card is made. The user benefit may be `Air flight miles` or cash toward a new car, vacation or a gift. These benefits are promoted by the banks or card issuing organizations as an incentive for the purchaser to use their credit card. The credit cardholder has no part in deciding where the benefits should go, only to receive them.
Considering the daily pleas being heard for donations to charities of all kinds, it would be new and useful if such donations and contributions could be made to a charity selected by a cardholder using a credit/charge card. As an option, the cardholder could also request a donation (paid by the cardholder) to the United States Government for a reduction of the national debt. At present, there exists no known mechanism or credit/charge card system for making the above cardholder contributions.
The invention comprises a credit/charge card which identifies a charity or charities to receive a donation, and a purchase processing system which processes the card user's transaction, pays a previously decided amount to the charity or charities and also bills the cardholder. In this system, the donated amounts may be paid by the bank or card issuing organization, or the cardholder may add an amount which he pays to the selected charity. The proposed system may be described as being a bank expedited charity donation, (abbreviated to BAX) approach for credit/charge cardholders.
It is therefore a prime object of this invention to provide a system that enables a credit/charge cardholder to make automatic contributions to a charity of his choice with every purchase of goods or services, using a bank-expedited method of donation.
Another object is to provide a system which could generate much self-satisfaction in an individual cardholder knowing that he could help others or help reduce the national debt simply by using a participating credit/charge card.